Daily Oil Output Up in July, Down in August

Iraq exported over 57 million barrels of oil in July, an average of 1,850,000 barrels per day, said Iraq’s deputy oil minister on Sunday.

Speaking to AKnews, Mutasam Akram said the country’s oil exports had decreased by around 50,000 barrels a day during the month of August.

In May, the country exported over 85 million barrels of oil bringing in $4.3. billion [5 trillion Iraqi dinars] to the country’s treasury. In June, oil sales plummeted to 54.7 million barrels, 1.823 million bpd, worth a total of $3.8 billion [4.4 trillion Iraqi dinars].

Last month, oil minister, Hussein Shahristani said the country’s oil revenues in the last four years had amounted to $171 billion, accounting for nearly 95 percent of the country’s income.